PHILADELPHIA (KYW Newsradio) — A Philadelphia teenager is bringing his passion for finance to his peers this Financial Literacy Month, through a group he calls the Money Movers Club.
Marcel Allen, 16, said he has been interested in money for as long as he can remember.
"People used to make the rubber band bracelets and stuff," said Allen, a junior at George Washington Carver High School. "My dad would like to do it with me, so I would have him make them and then I would go and sell them at school."
That interest led him to reading books about finance.
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"'Rich Dad, Poor Dad' is a really big inspiration for a lot of people and it was for me too, because that was the first finance book that I've ever read. I've also read 'The Four Hour Work Week,' but the one I'm personally reading right now is 'The Richest Man In Babylon,'" Allen said.
It also led him to discussions with his friends about money management.
"How to budget and how to save and invest. I got so excited about it that I liked talking about it with my friends, but it was a problem because nobody understood what I was talking about," Allen explained.
"If I'm going to talk about it to you guys, which I will, I want you guys to understand what I'm saying! So how about we just meet up? I'll have other people come that I talk to a lot, and we can just learn together."
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So Allen started a Saturday Money Movers club on Zoom. They talk about a variety of money-related issues, like real estate and credit.
"I was trying to explain to them that it's not for the purchases that you can afford, it's for the purchases that you can't, like a house," he said.
Now, he is looking to take his club to the next level for his senior year with more comprehensive presentations and guest speakers.
"It doesn't matter how young you are, finance can be explained in a very simplistic way, I think, in every form from real estate to stocks to just budgeting itself," he said.
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"The younger you learn, the better the outcome can be."
Allen said he's excited about doing even more with his club next year, and then he wants to go to college. What does he plan to study?
"I'm not really sure yet, but I think I want to study finance," he said.
Allen said he's always looking for mentors. He welcomes those experienced in finance or real estate to email him at marcelallenjr.04@gmail.com to share their knowledge with his club.